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Boca Raton CRA previews FY25 budget: $26M revenue, $60.5M proposed spending and major capital projects
Summary
CRA staff presented a FY25 budget preview showing about $26 million in revenue (approximately $22.5M from tax increment) and proposed expenses of $60.5 million, including $24M for Palmetto Park Road improvements and $6.1M for traffic lighting; board questioned parking revenue trends and capital allocations.
CRA staff on Aug. 26 presented a preview of the Community Redevelopment AgencyFY25 budget and highlighted major capital priorities and funding sources.
Special Projects Manager Steven Timberlake said tax increment growth has reached approximately $2.6 billion and staff anticipates FY25 revenue of roughly $26,000,000, of which about $22,500,000 is projected from tax increment financing. Timberlake proposed total CRA expenses of about $60,500,000 for the coming fiscal year, with nearly…
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